Form 4/A Aldel Financial Inc. For: Apr 09 Filed by: KAUFFMAN ROBERT I

May 14, 2021 9:51 PM EDT

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FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
KAUFFMAN ROBERT I

(Last) (First) (Middle)
C/O ALDEL FINANCIAL INC.,
105 S. MAPLE STREET

(Street)
ITASCA IL 60143

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Aldel Financial Inc. [ ADF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
04/09/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
04/14/2021
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common stock, par value $0.0001 (1) 04/09/2021   P   1,500,000 A (2) 1,500,000 I Held by Aldel LLC (3)
Class A Common stock, par value $0.0001 (4) 04/12/2021   P   515,000 A (2) 515,000 I Held by Aldel Investors LLC (5)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (1) $ 11.50 04/09/2021   P   750,000     (6)   (7) Class A Common stock, par value $0.0001 750,000 (2) 750,000 I See Footnote (3)
Warrant (4) $ 11.50 04/12/2021   P   257,500     (6)   (7) Class A Common stock, par value $0.0001 257,500 (2) 257,500 I See Footnote (5)
Explanation of Responses:
1. The shares of Class A common stock are held as part of the public units ("Public Units") of Aldel Financial Inc. (the "Company"), with each Public Unit consisting of one share of Class A common stock, par value $0.0001 per share ("Common Stock") and one-half of one warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "Warrants").
2. The Public Units and Private Units were purchased for $10.00 per unit.
3. Held by Aldel LLC. Mr. Kauffman is the manager of Aldel LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
4. Simultaneously with the consummation of the Company's initial public offering, Aldel Investors LLC (the "Sponsor") acquired, at a price of $10.00 per unit, 515,000 units (the "Private Units") in a private placement for an aggregate purchase price of $5,150,000. Each Private Unit consists of one share of Common Stock and one-half of one Warrant.
5. Held by the Sponsor. Mr. Kauffman is a manager of the Sponsor and has voting and investment discretion with respect to the shares of common stock held of record by the Sponsor. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
6. The Warrants included in the Public Units and the Private Units will become exercisable at any time commencing on the later of (a) 12 months from April 12, 2021, the closing date of the Company's initial public offering, or (b) 30 days after the completion of the Company's initial business combination.
7. The Warrants will expire five years after the completion of the Company's initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.
/s/ Hassan R. Baqar, Attorney-in-Fact 05/14/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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